China’s CLNG, Canada’s Teekay to build 6 LNG carriers for Yamal

10 July 2014 10:06 Source:ICIS News

SINGAPORE (ICIS)--China LNG Shipping (CLNG) and Canada’s Teekay have agreed to jointly build six liquefied natural gas (LNG) carriers for Russia’s Yamal LNG project, CLNG’s parent company China Merchants Energy Shipping said on Thursday.

The ice class vessels (in 173,000 cubic metres each) will be built by South Korea’s Daewoo Shipbuilding & Marine Engineering in a $1.9bn contract signed on 8 July, the Chinese shipper said in a statement.

CLNG and a Teekay subsidiary will each hold a 50% interest in those carriers, which will be delivered between 2018-2020, it said.

Singapore-based Yamal Trade Pte has signed agreements to rent the six vessels for transporting LNG from Russia’s Yamal LNG project.

The Yamal project, a joint venture project among Russia’s Novatek (60%), French’s Total (20%) and PetroChina (20%) has three liquefaction trains with a total capacity of 1.65m tonnes/year. Operation is scheduled in 2016.

By Fanny Zhang